New York City Teachers Basics

  • Established 1918
  • Currently open to new hires
  • Plan covers teachers
  • Plan members covered by Social Security
  • Multiple employer, cost sharing plan

Assets, Participants, and Benefits

Assets at Year-End, New York City Teachers, 2001-2016

Fiscal Year Net Assets (billions)
2001 31.6
2002 27.0
2003 26.1
2004 29.3
2005 30.5
2006 32.2
2007 37.1
2008 32.3
2009 23.1
2010 26.4
2011 33.6
2012 32.8
2013 36.9
2014 44.5
2015 44.3
2016 43.6

Source: Public Plans Database

Number of Actives per Annuitant, 2001-2016

Fiscal Year New York City Teachers US State and Local Pensions
2001 1.8 2.4
2002 1.8 2.4
2003 1.7 2.3
2004 1.7 2.2
2005 1.6 2.1
2006 1.6 2.1
2007 1.6 2.0
2008 1.6 2.0
2009 1.6 1.9
2010 1.5 1.8
2011 1.5 1.7
2012 1.5 1.6
2013 1.4 1.5
2014 1.4 1.5
2015 1.4 1.4
2016 1.4 1.4

Source: Public Plans Database

National data averages are weighted by plan size.

Costs

Employer's Annual Required Contribution as a Percentage of Payroll and Portion Paid for New York City Teachers, 2001-2016

Fiscal Year Portion of Employer ARC paid Portion of Employer ARC left unpaid US Avg Employer ARC ARC as a Percent of Payroll {role:annotation}
2001 8.9 2.5 5.9 11.4 11.4
2002 9.3 1.8 5.5 11.1 11.1
2003 11.0 2.8 6.3 13.8 13.8
2004 14.8 1.5 7.8 16.3 16.3
2005 19.9 1.2 9.5 21.1 21.1
2006 18.9 0.0 10.5 18.9 18.9
2007 22.2 0.0 11.4 22.2 22.2
2008 24.2 0.0 11.9 24.2 24.2
2009 27.7 0.0 12.2 27.7 27.7
2010 31.1 0.0 14.7 31.1 31.1
2011 31.3 0.0 16.7 31.3 31.3
2012 33.4 0.0 17.7 33.4 33.4
2013 35.8 0.0 19.1 35.8 35.8
2014 36.2 0.0 20.2 36.2 36.2
2015 37.0 0.0 20.2 37.0 37.0
2016 40.1 0.0 20.3 40.1 40.1

Source: Public Plans Database

National data averages are weighted by plan size.

Actuarial Funding

Actuarial Funded Ratio for New York City Teachers, 2001-2016

Fiscal Year New York City Teachers National Data
2001 98.0 105.5
2002 93.6 96.9
2003 88.2 93.1
2004 81.1 89.4
2005 77.1 85.5
2006 71.8 84.8
2007 69.6 85.3
2008 65.2 83.7
2009 64.1 78.6
2010 58.9 75.5
2011 58.2 72.8
2012 57.6 69.9
2013 57.7 68.9
2014 57.7 70.5
2015 56.4 70.7
2016 58.6 70.2

Source: Public Plans Database

National data averages are weighted by plan size and reflects the average for plans of similar type and Social Security coverage.

Investments

Asset Allocation for New York City Teachers, 2016

Category Percent
Equities 60.0
Fixed Income 27.3
Private Equity 9.5
Real Estate 0.0
Cash 3.2
Other 0.0
Commodities 0.0
Hedge Fund 0.0
Misc. Alternatives 0.0

Source: Public Plans Database

Asset Allocation for State and Local Pensions, 2016

Category Percent
Equities 48.4
Fixed Income 22.8
Private Equity 8.5
Real Estate 8.8
Cash 1.7
Other 0.2
Commodities 1.5
Hedge Fund 6.9
Misc. Alternatives 1.1

Source: Public Plans Database

National data averages are weighted by plan size.


Asset allocation for New York City Teachers, 2001-2016

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 57.7 23.4 14.7 0.0 4.2 0.0 0.0 0.0 0.0
2002 54.6 25.7 15.5 0.0 4.1 0.0 0.0 0.0 0.0
2003 59.1 24.3 11.9 0.0 4.6 0.0 0.0 0.0 0.0
2004 60.0 22.9 14.0 0.0 3.2 0.0 0.0 0.0 0.0
2005 58.2 21.2 16.8 0.0 3.9 0.0 0.0 0.0 0.0
2006 61.4 17.9 17.4 0.0 3.3 0.0 0.0 0.0 0.0
2007 59.6 18.2 18.8 0.0 3.4 0.0 0.0 0.0 0.0
2008 56.3 20.2 20.2 0.0 3.3 0.0 0.0 0.0 0.0
2009 48.2 24.9 23.1 0.0 3.8 0.0 0.0 0.0 0.0
2010 61.4 23.3 9.8 0.0 5.5 0.0 0.0 0.0 0.0
2011 63.4 19.7 9.9 0.0 7.0 0.0 0.0 0.0 0.0
2012 61.5 27.0 7.4 0.0 4.2 0.0 0.0 0.0 0.0
2013 64.0 25.4 7.9 0.0 2.7 0.0 0.0 0.0 0.0
2014 66.0 22.7 7.5 0.0 3.8 0.0 0.0 0.0 0.0
2015 60.5 25.9 8.2 0.0 5.4 0.0 0.0 0.0 0.0
2016 60.0 27.3 9.5 0.0 3.2 0.0 0.0 0.0 0.0

Source: Public Plans Database


Annual Return as of June 30 for New York City Teachers, 2001-2016

Fiscal Year New York City Teachers Assumed return
2001 -8.20 8.00
2002 -8.10 8.00
2003 4.00 8.00
2004 15.90 8.00
2005 10.60 8.00
2006 9.95 8.00
2007 17.46 8.00
2008 -6.21 8.00
2009 -18.12 8.00
2010 14.38 7.00
2011 23.28 7.00
2012 1.85 7.00
2013 11.90 7.00
2014 17.62 7.00
2015 2.99 7.00
2016 1.86 7.00

Source: Public Plans Database

National data averages are weighted by plan size.

Cash Flows

Cash Flow vs. Total Assets (Millions)
New York City Teachers
2001-2016

Fiscal Year Cash Flow Assets
2001 -1,362.8 31,593.0
2002 -1,602.2 27,025.9
2003 -1,724.3 26,078.0
2004 -1,612.8 29,282.8
2005 -1,797.8 30,492.2
2006 -1,894.8 32,206.7
2007 -1,851.0 37,142.8
2008 -1,736.0 32,297.9
2009 -1,383.2 23,077.5
2010 -1,455.1 26,398.4
2011 -1,686.3 33,601.5
2012 -1,630.6 32,774.8
2013 -1,639.4 36,856.5
2014 -654.9 44,489.9
2015 -598.5 44,254.7
2016 -1,586.6 43,629.5

Source: Public Plans Database


Cash Flow as a Percentage of Assets
New York City Teachers
2001-2016

Fiscal Year New York City Teachers National Average
2001 -4.3 -2.4
2002 -5.9 -3.3
2003 -6.6 -3.6
2004 -5.5 -3.4
2005 -5.9 -3.5
2006 -5.9 -3.3
2007 -5.0 -3.1
2008 -5.4 -4.0
2009 -6.0 -4.9
2010 -5.5 -4.9
2011 -5.0 -4.2
2012 -5.0 -4.3
2013 -4.4 -4.3
2014 -1.5 -3.4
2015 -1.4 -3.2
2016 -3.6 -3.5

Source: Public Plans Database

National data averages are weighted by plan size.

2018 Financial Reports

Benefits

Website for New York City Teachers benefit descriptions.